Nigeria: Resistor Market 2024

Resistor Market Size in Nigeria

The Nigerien resistor market expanded to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a abrupt setback. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Resistor Exports

Exports from Nigeria

In 2022, overseas shipments of electrical resistors (except heating resistors) were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a dramatic decline. The pace of growth appeared the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, resistor exports totaled $X in 2022. Overall, exports, however, showed a dramatic slump. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X units) was the main destination for resistor exports from Nigeria, accounting for a X% share of total exports. Moreover, resistor exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Ghana (X units), eightfold. The third position in this ranking was held by the Netherlands (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (X% per year) and the Netherlands (X% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for electrical resistors (except heating resistors) exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an X% share of total exports. It was followed by Finland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cote d'Ivoire amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Finland (X% per year).

Export Prices by Country

In 2022, the average resistor export price amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to North Macedonia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Resistor Imports

Imports into Nigeria

In 2022, purchases abroad of electrical resistors (except heating resistors) decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, resistor imports skyrocketed to $X in 2022. In general, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X units), China (X units) and the UK (X units) were the main suppliers of resistor imports to Nigeria, with a combined X% share of total imports. The United Arab Emirates, Finland, Italy, France, India and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of electrical resistors (except heating resistors) to Nigeria, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average resistor import price amounted to $X per thousand units, jumping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per thousand units in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per thousand units), while the price for Turkey ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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